23rd May 2008 07:00
FOR IMMEDIATE RELEASE
Fleet Employment Update
HELLENIC CARRIERS CHARTERS ITS HANDYMAX VESSEL "M/V HELLENIC HORIZON" FOR TWO YEARS AT US$45,000 PER DAY
Press Release 23 May 2008
Hellenic Carriers Limited, ("Hellenic" or the "Company") (AIM: HCL), an international provider of marine transportation services for dry bulk cargoes, today announces that it has entered into a time charter agreement for the M/V Hellenic Horizon for a period of minimum 24 months to about 26 months at the gross rate of US$45,000 per day. The charter is due to commence by 10 July 2008 with delivery of the vessel in the Indian sub continent.
The M/V Hellenic Horizon is a 44,800 dwt Handymax built in 1995 at Halla Engineering, & Heavy Industries, Korea.
Fotini Karamanlis, Chief Executive Officer, commented: "With this fixture we have increased our time charter coverage for the whole of 2008 to 97% and this has vindicated our decision in April to deploy the M/V HELLENIC HORIZON on a short term charter until the market improved. We also continue to build a solid time charter cover for 2009 and 2010 with 65% and 30% respectively already committed."
For further information please contact:
Hellenic Carriers Limited
Fotini Karamanlis, Chief Executive Officer
E-mail: [email protected] +30 210 455 8900
Jefferies International Limited
Nick Davies +44 20 7029 8000
Schuyler Evans
Capital Link - New York
Ramnique Grewal +1 212 661 7566
E-Mail: [email protected]
The Fleet Deployment of Hellenic is as follows:
|
Vessel |
Type |
Year Built |
Yard |
Carrying Capacity (dwt) |
Charter Type |
T/C Expiration Date (1) |
Daily Charter Rate US$ (Gross) |
|
M/V Hellenic Breeze (3) |
Panamax |
1993 |
Tsuneishi Shipbuilding, Japan |
69,601 |
T/C |
15/06/2008 |
64,000 |
|
M/V Hellenic Sky |
Panamax |
1994 |
Sasebo Heavy Industries, Japan |
68,591 |
T/C |
27/11/2008 |
23,000 |
|
M/V Hellenic Sea |
Panamax |
1991 |
Jiangnan Shipyard, China |
65,434 |
T/C |
30/05/2009 |
37,500 |
|
M/V Hellenic Horizon (4) |
Handymax |
1995 |
Halla Engineering & Heavy Industries, Korea |
44,809 |
T/C |
30/06/2008 |
38,000 |
|
M/V Konstantinos D |
Supramax |
2000 |
Mitsui Engineering & Shipbuilding, Japan |
50,326 |
T/C |
26/05/2010 |
64,250(2) |
|
M/V Hellenic Wind |
Panamax |
1997 |
Tsuneishi, Shipbuidling, Japan |
74,000 |
T/C |
14/07/2011 |
54,000 |
|
Total Fleet: 6 Vessels |
372,761 |
||||||
The latest charter expiration date represents the last day on which the charterer may redeliver the vessel to us upon the termination of the charter assuming that all options for additional hire periods under our charter are exercised.
For the period from the date of delivery to the 365th day of the charter and thereafter at a rate of US$48,250 per day.
The M/V Hellenic Breeze is expected to enter into her new time charter at $71,000 /day gross by 25/6/2008.
The M/V Hellenic Horizon is expected to enter her new time charter at $45,000 / day gross by 10/7/2008.
Further Information - Notes to Editors
About Hellenic Carriers Limited
Hellenic Carriers Limited owns and operates a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes worldwide. Its current fleet consists of six vessels, comprising four Panamaxes, one Supramax and one Handymax with an aggregate carrying capacity of 372,761 dwt and an average age of 13.1 years as at 30 April 2008.
Related Shares:
HCL.L